Antofagasta dampens special dividend hopes as earnings fall August 27, 2013 COPPER miner Antofagasta dampened hopes of a special dividend for 2013 yesterday after posting a drop in first-half profit and forecasting challenging market conditions. Shares in London-listed, Chile-focused Antofagasta have long traded at multiples at the top end of the sector, not least because of its generous shareholder rewards. The company has paid special dividends [...]
Petrofac fuels growth hopes August 27, 2013 Oil services group Petrofac hopes to deliver “modest” growth in full year profits despite a 25 per cent fall in first half earnings to $243m. The company expects net profit to be “significantly weighted” toward the second half of the year. The firm also revealed a three-year contract, worth $95m, to provide maintenance, engineering and [...]
Overground firm stays on track August 27, 2013 MTR Corporation, the Hong Kong-based transport firm that jointly operates the London Overground, said yesterday revenues were up 12 per cent and underlying profits rose 5.1 per cent in the first six months of the year. MTR gave no financial details for London Overground Rail Operations Limited, which it owns with Deutsche Bahn, but said [...]
Ad profits fall 43pc for UTV August 27, 2013 Belfast-based UTV Media has reported half-year profits of £6.1m, down from £10.7m in 2012. Revenue also fell to £55.2m from £61.6m in 2012, a drop that UTV blamed on a lack of major sporting events during the year that had hit its advertising revenues. UTV chief executive John McCann said the first half of the [...]
BBA Aviation confirms tie-up talk with Dubai August 27, 2013 BBA AVIATION yesterday confirmed it was in talks to tie up with American engine repair firm Standard Aero, sending its shares sharply higher. The group, which offers plane refueling and maintenance services, said it was in preliminary discussions with Standard Aero’s parent firm Dubai Aerospace Enterprise “regarding a potential business combination”. Shares in BBA Aviation [...]
Brand Index: Positive economic signs continue but job security lags August 27, 2013 FOR the last few months I have reported positive signs emanating from YouGov’s economic confidence data, and I am delighted to report the August stats show the good news continuing. The Consumer Confidence Index (derived from consumers’ perception of their personal financial situation, job security, house prices and activity at their place of work) has [...]
Concha uncovers capital shortfall at app developer Moshen Limited August 27, 2013 CHRIS Akers’ investment group Concha said yesterday it had discovered possible financial irregularities at one of its investee companies, UK digital app company Moshen Limited. Concha said it had “uncovered apparent financial irregularities which indicate a significant working capital shortfall” at Moshen, whose chief executive has been suspended pending the outcome of the investigation. Concha [...]
Finnish firm is debut buy for new Arm boss August 27, 2013 ARM HOLDINGS, the UK’s most successful listed technology firm, yesterday announced it has bought Finnish startup Sensinode Oy for an undisclosed sum. The chip designer described Sensinode as a “pioneer in software for low cost low power internet connected devices,” a market in which Arm is keen to continue its growth. The acquisition is the [...]
Serial entrepreneur plans £15m London flotation for new startup August 27, 2013 LONDON-BASED technology startup Rightster yesterday announced plans to raise up to £15m on London’s Alternative Investment Market (Aim) to help fund further investment in its technology. Rightster specialises in the distribution of online video and operates one of the largest multi-channel networks on YouTube, with a client list that includes The Press Association, The Guardian [...]
Judge closes Facebook case August 27, 2013 AN AMERICAN judge has granted approval to Facebook’s $20m (£12.8m) settlement of a class-action lawsuit over its sponsored story advertising programme. The lawsuit filed in 2011 alleged that Facebook’s sharing of users’ so–called likes to advertisers without their consent was a privacy breach. Facebook will pay out $20m to members of the lawsuit and as [...]
